Red Lobster Parent Shells Out Higher Pay

Miller Tabak says Darden's earnings will feel the pinch in the near term.

We reiterate our Buy rating on Darden Restaurants but lower our price target to $54 from $55 following this week's investor conference.

Although the company's value initiatives arguably have amplified negative comps recently, we think over time these initiatives will lead to increased customer visits as they did in the midscale bar-and-grill segment...